Mar 28 2009
Bad Credit Credit Report Repair - Why Do It Yourself?
A credit report is a powerful piece of paper. Lenders look at it closely when deciding whether or not to give you a loan. Insurance companies can use it to determine your rates or whether they will cover you at all. Today, many employers access your credit report before offering you a job. Your credit score holds a great deal of influence in many arenas so be sure your report reflects well on you.
Repairing your credit yourself saves you money
According to the Fair Credit Reporting Act, consumers can dispute mistakes in their credit report for free. It can be a little time consuming to pull your report, document the error, type up a letter and send it in, so many people hire credit repair agencies to do the boring work for them. There is no real reason, other than the issue of time, to pour out money for work that you can easily do yourself.
There are no secret tricks to credit repair
Don’t be fooled into thinking that you don’t have the knowledge to clean up your credit report and that a credit repair agency knows a bunch of angles that have eluded you. Information to assist you in fixing errors on your credit report are readily available leaving no reason to involve a third party.
Take precautions from being scammed
You may read how an agency claims to erase bad credit from you report, but that is not true. Inaccurate information is the only thing that can be changed legally. If you have had a bankruptcy, the only thing that will legally remove it from your credit report is time.
Credit repair agencies charge anywhere from $400 to $2000 for their services and the reality is they are not doing anything that you can’t do for yourself. You can obtain a credit report with history from all three credit agancies for only $30. You’ll need to invest a substantial amount of time to clean up your credit report.
